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Aim market to return to growth

first_img whatsapp Sunday 22 August 2010 10:29 pm KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ The tide of firms delisting from the Alternative Investment Market (Aim) will finally bottom out over the second half of the year, heralding a return to growth for the junior market next year. Deloitte predicts the number of firms on the market will reach a low point of 1,200, a drop of almost 30 per cent from its peak of 1,694 in 2007. Firms left the market in droves during the crisis, as the cost of maintaining a listing put undue pressure on balance sheets. Share whatsapp Aim market to return to growth Tags: NULLlast_img read more

How AirAsia boss Tony Fernandes shrugged off the global recession

first_img How AirAsia boss Tony Fernandes shrugged off the global recession Show Comments ▼ More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Tags: NULL Sunday 5 September 2010 9:36 pm IF Tony Fernandes, the chief executive of pioneering low-cost carrier AirAsia, ever suffered from shyness as child, he is certainly cured of it now.The UK-educated Malaysian entrepreneur, who founded the short haul airline in 2001 and its longhaul sister AirAsia X six years later, dominates the meeting room of his West End PR agency with his loud voice and breezy manner.But then you need to be able to hold your own in the sort of company he travels in. The morning City A.M. spoke to him he had just had breakfast with Sir Martin Sorrell, the boss of WPP and the world’s most influential advertising executive; and he regularly hobnobs with the rich and powerful. Fernandes, 46, bought the Lotus Formula One team last September, and has since made a bet with Virgin boss Sir Richard Branson, who runs his own Virgin Racing outfit. Whoever finishes behind the other at the end of the season must serve as a cabin crew member on the rival airline. Fernandes, who actually began his career on one of Branson’s cable TV stations in the late 1980s, says: “I have already told him to start shaving his legs. We don’t like cabin crew with hairy legs on AirAsia.”One gamble Fernandes, who has a £230m fortune, lost out on earlier this year was his bid to buy West Ham United football club, which was sold to British businessmen David Gold and David Sullivan. Fernandes has moved on from that and is currently making headlines because last month he confirmed his intention to float longhaul outfit AirAsia X in the second half of next year. Parent company AirAsia has a 16 per cent stake in that business. Currently AirAsia has 86 planes and average fares of £25 to more than 100 routes including Malaysia, Thailand, China, the Philippines and Macau. AirAsia X has 11 planes and average return fares of around £300 on routes such as Hong Kong and London. Both airlines share 7,000 staff and are based in Kuala Lumpur, Malaysia. Fernandes is chief executive of AirAsia, which itself floated in 2004, and a board director of its longhaul sister.AirAsia posted a 2009 net profit of RM 549m (£112m) on sales up 11.5 per cent at RM3,179m (£648m). The airline bucked the 3.5 per cent fall the industry suffered globally last year, as it launched 12 new routes and saw passenger numbers grow 24 per cent to 22.7m. Smaller but no less successful AirAsia X posted a net profit of RM87m on sales of RM720m. The longhaul carrier is currently completing a RM100m rights issue to be able to finance the running of its own operations in advance of the separation.Fernandes says the reason for the flotation is because he is seeing “a bit of contamination” between the way the two airlines are run, and this needs to be prised apart.He says: “The patterns of the pilots and cabin crew are different on shorthaul and long haul airlines. Both airlines need differing amounts of ground crew, because there is less luggage in the hold on shorthaul. Also the approach to marketing is different on both carriers.”Fernandes says AirAsia X will float in Malaysia and is considering a secondary listing in London or New York. He will not say how much of the business will be sold to outside investors, but he does say AirAsia’s 16 per cent stake in the longhaul outfit will be “treated as an investment” and will be sold down over time. Intriguingly, Branson’s Virgin Atlantic also holds a 20 per cent stake in AirAsia X. Fernandes will begin to look for banks to handle the sale towards the end of the year.However, he does not want or predict a full separation of the two airlines. He says they will still share the same website, but more importantly he says that he sees a “star chamber” of four executives, including himself, who will sit on a board that will span both carriers.Fernandes says that what is happening at his carriers reflects a polarisation in the airline business brought about by the 2008 financial crisis.He says airlines are often “destroyers of capital”. And if you take into account the scores of airlines around the world that have failed in the last two years – from Oasis in Hong Kong to Flyglobespan in Scotland – it is hard to disagree with him. He adds: “Airlines have to choose what they want to be, either shorthaul or longhaul. You have to focus on what you are offering. Two of the world’s most successful airlines, Singapore Airlines and Cathay Pacific, are basically longhaul airlines.”The airline boss continues: “By contrast British Airways runs four businesses. They have first class, business class, premium economy and economy. And that takes different levels of service and marketing for each.” Fernandes adds: “BA should sell off its shorthaul operations. The industry is separating out into simply premium and low cost airlines, and it takes a lot of focus to do one of those well and make money from it.”He also thinks that banks should take the bulk of the blame for the financial crisis, backs a Glass-Steagall style reform of finance and says that government response to bank regulation around the world is patchy.Fernandes says: “Banks should be there to build businesses, and that means sensible lending. Too much cash was put into instruments like derivatives. Governments should split up banks into commercial and investment arms.”He adds: “Asian banks have learned their lessons from their own banking crisis in 1997, when there was a lot of free and easy money flying around. But this time around they did a superb job.”Fernandes thinks that the EU is introducing prudent banking reforms, but adds that he thinks the US “has still not got to grips with their big banks”.The airline chief also argues that the industry is beginning to look up. He says: “We are in a very sweet spot. In terms of budget travel people are trading down towards us. But across the industry as a whole the Icelandic volcano shows that people can’t live without aviation. People want to travel. TV has made the world smaller. There is a lot of talk about CO2 emissions but cars emit out a lot more carbon. The urge to travel is strong.”There are not many in the airline industry who would see the Iceland’s Eyjafjallajökull volcano, which grounded planes across Europe and the Atlantic at a cost of hundreds of millions of pounds, as good news for air travel. However, for Fernandes the glass is never less than half full. His beginnings in the business demonstrate that.He worked in the finance department of Virgin’s Music Box and Super Channel in the late 1980s. Fernandes then moved on to become the south east Asian regional vice-president for Warner Music for nine years, until 2001, but then he struck out on his own after becoming disillusioned with the Time Warner’s and AOL merger.He saw Sir Stelios Haji-Ioannou, a fellow London School of Economics alumni, talking about his easyJet airline on TV and thought he could replicate the idea in Asia. He brought together two partners, remortgaged his house for £250,000 and bought AirAsia from the Malaysian government for RM1, taking on RM40m of debt. The airline then comprised of just two ageing Boeing 737-300 jets, with the deal being signed just three days before 9/11, terrible timing for any airline.“I was philosophical about it,” smiles Fernandes. “The business could only go up from there.”The airline quickly followed the classic budget aircraft model of lean staff, one-hour airport turnarounds, and high plane usage (12 hours in the air per day instead of the more usual seven). Remarkably, it made a profit at the end of its first year.“We had to make money, because we did not have any other cash to fall back on,” he says. The airline carried on adding routes and passengers and grew to become a dominant player in the region.As the airline industry continues to polarise and change, and Asian firms continue their global ascent, we are bound to see far more of the loud, brash and confident Tony Fernandes. Europe’s remaining legacy carriers had better watch out.CV | TONY FERNANDESAge: 46; born in Kuala LumpurWork: Virgin’s Music Box and Super Channel where he worked as an auditor and later financial controller: 1987-1989; Warner Music: 1992-2001, leaving as south east Asian regional vice-president; chief executive of AirAsia: 2001 to present.Education: Epsom College: 1977-1983 (“It was like a borstal”); London School of Economics: 1984-1987, read accounting. Family: Married, with two children. Hobbies: Music, has about 8,000 iTunes tracks: “Most of it is R&B, but I like most stuff except country and western.” A West Ham fan since 1975. Share whatsapp KCS-content whatsapplast_img read more

John Lewis set to beat forecasts

first_img whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Share John Lewis set to beat forecasts whatsapp KCS-content Monday 1 November 2010 8:43 pm Tags: NULL Show Comments ▼ John Lewis yesterday said it would beat its four per cent sales growth forecasts for the current half-year, declaring its core, middle-income shoppers will be less hurt by the government’s spending review than first feared. Retail director Andrew Murphy said the balance between spending cuts and tax rises meant his customers could still afford to shop. Half-year sales could even beat six per cent, he added. “I wouldn’t entirely rule out an upside on that. Whatever UK retail Plc comes out with, we will come out right at the top end of that,” Murphy said. “We’re going to outperform the market, probably outperform some of our competitors by some distance.” Murphy said John Lewis’ past experience was that tax rises had more impact in the short term than government spending cuts. last_img read more

Fed reveals more QE details

first_imgWednesday 10 November 2010 8:47 pm More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.com Show Comments ▼ Fed reveals more QE details whatsapp whatsapp center_img Share KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solution The Federal Reserve will buy about $105bn (£65bn) of Treasuries and Treasury inflation-protected securities in 18 operations from 12 November to 9 December as part of its next batch of quantitative easing, the New York Fed said last night. Around $75bn of this sum is part of the new $600bn easing programme announced last week, with the remaining $30bn printed under a previously announced scheme. The Fed had already in August undertaken a programme of Treasury and TIPS buying, using funds from agency bonds. Tags: NULLlast_img read more

Amlin says business is still mixed

first_img Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Tags: NULL whatsapp LLOYD’S insurance group Amlin said yesterday trading last quarter was mixed, as it posted a 39 per cent increase in premiums written in the year to date. The group wrote £1.92bn in the period, thanks to its acquisition of ACI and new business within its UK fleet motor and Bermuda arms. Amlin said catastrophe reinsurance premiums have suffered a drop, with massive claims linked to the Chilean and New Zealand earthquakes doing little to boost global prices. UK rates have increased 1.5 per cent in the year to date, though other sectors such as London marine have decreased. Returns on the firm’s £4.2bn investment efforts stood at 3.9 per cent, helping to offset downward pressure on premiums. The firm credited most of the gains to strength in the stock market, and said the feat was unlikely to continue long-term.“While we are trading in tougher market conditions, we remain on track to deliver a good current year return at this point in the insurance cycle,” said chief executive Charles Philipps. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Amlin says business is still mixed center_img KCS-content whatsapp Show Comments ▼ Monday 15 November 2010 7:48 pmlast_img read more

Two Britons reported dead among Moscow airport blast

first_img Two Britons reported dead among Moscow airport blast Show Comments ▼ KCS-content whatsapp Share Monday 24 January 2011 8:50 pm Tags: NULL whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof TWO BRITONS ARE said to be among the dead after a suspected suicide bomb attack at Moscow’s largest airport yesterday killed at least 35 people and injured more than 100. The attack took place at the Russian capital’s Domodedovo airport at around 16:30 local time. Russian president Dmitry Medvedev vowed to punish the attackers. last_img read more

Davos leaders fear surge in unemployed

first_img whatsapp Share Tuesday 25 January 2011 8:57 pm Davos leaders fear surge in unemployed by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Show Comments ▼ whatsappcenter_img GLOBAL unemployment will be at the top of the agenda at Davos this year, with one official of the World Economic Forum warning that the biggest danger for 2011 is the possibility of a “jobless recovery”.The warning comes as the International Labour Organisation (ILO), a UN body, announced yesterday that worldwide unemployment has stayed stubbornly high at 205m during 2010. The ILO also forecast that the number will fall by less than one per cent during 2011. The figure means that there are now 27.6m more people without jobs than in 2007 before the crisis hit.Delegates at Davos will discuss the threat of ongoing joblessness this morning at an event entitled: “The West isn’t working”, held by Manpower, an employment consultancy and main sponsor of the WEF.Jeffrey Joerres, chairman and chief executive of Manpower, will blame western educational systems for not being “aligned with the needs of the world of work”.“Industry and educational institutions must work together more constructively and governments need to target funding in the right areas,” he says. “Companies, governments and educators all have a responsibility to get this right.”World leaders are particularly nervous that stubborn unemployment could combine with skyrocketing commodity prices to create conditions ripe for widespread civil unrest. President Barack Obama has come under heavy fire ahead of his first State of the Union address for failing to boost job creation: US unemployment currently stands at 9.4 per cent.Europe is in even worse straits. And the economist Nouriel Roubini, who is due to speak at a CNBC breakfast in Davos this morning, has warned that the UK in particular has a “whiff of stagflation” about it, saying it is “already double dipping while inflation is rising.” Youth unemployment in the UK is already on a par with general unemployment in Spain, with both now at 20 per cent. KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULLlast_img read more

Waitrose sales top £5bn

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesHero WarsThis game will keep you up all night!Hero WarsBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeBetterBe20 Stunning Female AthletesBetterBeThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar Program Waitrose sales top £5bn Thursday 3 February 2011 7:38 pm whatsapp Share Overall growth of almost 10 per cent over the past 12 months meant that Waitrose total sales hit £5bn for the first time in the year to 1 February 2011. The figure is made up of sales from Waitrose branches, Direct Services and food halls, as well as business partners, and was boosted by an increase in sales of 6.4 per cent in the final week of trading. center_img whatsapp Show Comments ▼ More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org KCS-content Tags: NULLlast_img read more

Quantitative easing must stop, say top Fed officials

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeStyleVamp10+ Normal People Who Astonishingly Look Like CelebsStyleVampcutenova.comTake a Peek at 10 of the Most Expensive Houses in the Worldcutenova.comBewadaHusband Divorced His Wife After Looking Closer At This PhotoBewadaMold Removal | Search AdsBathroom Mold Removal Tips That Might Surprise Most AmericansMold Removal | Search AdsAmoMediaMan Leaves Wife For Her Sister, Her Revenge Is BrilliantAmoMediaPlumbing ServicesPlumber Prices In Scottsdale might surprise YouPlumbing ServicesfddStimulus News UpdatesfddCrawl Space RepairFoundation Repair Cost In Scottsdale May Surprise YouCrawl Space Repair5log – Livinguard®This mask has been sold out in Germany 5 days after the government has tighten up5log – Livinguard® KCS-content Quantitative easing must stop, say top Fed officials Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut Tuesday 8 February 2011 8:28 pm whatsapp Sharecenter_img Show Comments ▼ whatsapp AMERICA’S monetary stimulus should be withdrawn at the “earliest sign” of core inflation pressures taking hold, Richard Fisher of the Federal Reserve said last night.And no extension of quantitative easing (QE2) is warranted, he said. It was “hard to envision a scenario where I would not formally dissent against another tranche of monetary accommodation,” Fisher stated.Fisher’s Fed colleague Jeffrey Lacker added to the hawkish sounds at a separate meeting in Delaware.The Fed should halt QE2 once the recovery is strong enough, Lacker said. “The distinct improvement in the economic outlook since the program was initiated suggests taking that re-evaluation [of bond purchasing] quite seriously,” he said.However, in yet another speech by a senior Fed official, Dennis Lockhart played down the risk of inflation, suggest a reverse of QE2 was unnecessary.“Underlying inflation is currently below the level that I would define as price stability,” he said. Tags: NULLlast_img read more

Murdoch snaps up The Shine Group for around £700m

first_img Share whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut whatsapp RUPERT Murdoch is set to buy the company his daughter founded after years of trying to get her to join the family company.News Corp has agreed to buy independent TV production company The Shine Group, which is responsible for hit shows including Master Chef and Ashes to Ashes, in a deal valuing it at around £700m.News Corp will use the firm’s content to bolster the appeal of its stations in Europe and the US.The deal has yet to be finalised but sources close to the negotiations say a “deal in principle” has been struck.Shine is the sixth-largest independent TV production firm in the UK.Its profit forecasts for 2011 are £50m, after turning over £103m last year.Elisabeth Murdoch will be the biggest winner in the deal, with her 53 per cent of the firm worth £371m. Sony will also cash in, with its 20 per cent stake worth £140m and BSkyB’s 13 per cent stake worth £91m.The media tycoon has been desperate to lure Elisabeth back into his empire.She was a senior figure at BSkyB before founding Shine in 2001. It is thought she will take a place on the News Corp board of directors.FAST FACTS | SHINEElisabeth Murdoch founded The Shine Group in 2001 after falling out with her mentor at BSkyB Sam Chisholm.Shine is responsible for the production of hit programmes including Master Chef. Murdoch snaps up The Shine Group for around £700m Show Comments ▼ Wednesday 9 February 2011 8:39 pm KCS-content Tags: NULLlast_img read more